|PDF:||Author(s):||I. V. Broyan, N. F. Ogneva,|
|Number of journal:||3(60)||Date:||August 2022|
The article discusses the current topic of choosing sources of financing for investment projects in modern conditions. The main sources are defined as own, borrowed and attracted funds. The difficulty lies in determining the optimal proportion of funds for the implementation of the project. To date, there is no universal formula for solving this problem, so each company independently or with the help of consulting firms makes its decision based on the current situation. The authors examined the life cycle of an investment project and the main aspects of financing at each stage. The choice of the source of project financing depends on the life cycle on which the company is located. The initial stages often require borrowed external funds; at later stages the company is able to attract its own. The authors present a matrix of sources of financing for investment projects, which includes all the main ways that companies can use to obtain funds for further development. It is important to understand that each method has a number of its own features and the possibility of using them depends primarily on the company’s activities, external factors, the type of investment project, and so on. The conclusions consider the main conditions that should be observed by the management of any company when choosing an investment project financing scheme. To begin with, the optimal capital structure is determined using the coefficient of financial dependence. Further, the main goals of the company are developed, the specifics of the business, the stage of the life cycle of its development are determined, and subsequent monitoring is conducted. All investment projects, both large enterprises and small ones, need sufficient sources of financing at every stage of the company’s development
investments, investment project, investor, life cycle, financing instruments, sources of financing, own invest- ments, borrowed investments, attracted investments, financial dependence coefficient, financing scheme
Ogneva N. F., Broyan I. V. Sources of financing for investment projects. Business. Education. Law, 2022, no. 3, pp. 18—23. DOI: 10.25683/VOLBI.2022.60.302.